The global thermoplastic polyurethane (TPU) films market to grow at a CAGR of 6.34% during the period 2018-2022.

The report covers the present scenario and the growth prospects of the global thermoplastic polyurethane (TPU) films market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.

TPU is a class of polyurethane plastics formed by the polyaddition reaction between a diisocyanate and one or more long- or short-chain diols. TPU films exhibit excellent toughness, flexibility, and abrasion resistance. They are used in numerous industries such as automotive, aerospace, construction, and energy.

One trend in the market is increasing use of thermoplastics in the aerospace industry. Lightweight materials are increasingly used in the aerospace industry. These materials enhance fuel efficiency and reduce emissions. Factors such as the increasing awareness about climate change, emphasis on environmental issues, and rising cost of fuel have increased the demand for lightweight aircraft.

According to the report, one driver in the market is rising number of wind mill installations. Wind energy is an inexpensive source of renewable energy, which can be used for the generation of electricity. North America and Western Europe contribute significantly to the total number of wind tower installations across the globe. It (wind energy) is expected to cater to more than 18% of the global electric power by 2025. It is expected to provide more than 2,000 GW of power with an annual investment of more than $211.39 billion (190 billion) by 2030.

Further, the report states that one challenge in the market is stringent regulations on automobile manufacturing. Automakers concentrate on improvising transportation and mobility features of the vehicles due to stringent fuel economy regulations. Many manufacturers equip the traditional engine and powertrain with these advanced features due to the short time frame allocated. In addition to improving the powertrain performance, automobile manufacturers will have to take risks in product development.

For instance, in 2014, Ford replaced steel in its highly recognized and profitable F-series truck with aluminum leading to weight reduction and fuel efficiency.